Exhibit 99.1 Investor Relations Contact: Liz Morali (408) 986-7977 liz_morali@amat.com Applied Materials, Inc. Page 2 of 13 Results Summary | | | Q3 FY2025 | | Q3 FY2024 | Change | | --- | --- | --- | --- | --- | --- | | | | | | (In millions, except per share amounts and percentages) | | | Net revenue | $ | 7,302 | $ | 6,778 | 8% | | Gross margin | | 48.8 % | | 47.3 % | 1.5 points | | Operating margin | | 30.6 % | | 28.7 % | 1.9 points | | Net income | $ | 1,779 | $ | 1,705 | 4% | | Diluted earnings per sha ...

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Commission File Number 001-40125 LOCAL BOUNTI CORPORATION (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporati ...

Exhibit 99.1 Subscription revenue for the second quarter of 2025 decreased to $4.6 million compared to $6.4 million for the second quarter of 2024, primarily reflecting the expiration of two commercial contracts that contributed $1.9 million of subscription revenue during the three months ended June 30, 2024. Service revenue for the second quarter of 2025 decreased to $3.4 million compared to $4.0 million for the second quarter of 2024, primarily reflecting $0.5 million of lower government service revenue f ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ____________ x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-38063 QXO, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation ...

Commission File Number: 001-38063 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ____________ x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to QXO, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction of incorporation ...

[PART I. FINANCIAL INFORMATION](index=5&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) IGC Pharma's Q1 FY2026 financials show increased revenue and reduced net loss, with assets decreasing and cash slightly increasing [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to $7.94 million, liabilities reduced to $1.87 million, and stockholders' equity slightly declined to $6.08 million | Financial Item | June 30, 2025 ($ thousands) | March 31, 2025 ($ thousands) | | :--- | :--- | :--- | | **Total Current Assets** | 2,153 | 2,896 | | **Total Assets** | 7,943 | 8,747 | | **Total Current Liabilities** | 1,725 | 2,257 | | **Total Liabilities** | 1,865 | 2,417 | | **Total Stockholders' Equity** | 6,078 | 6,330 | [Condensed Consolidated Statements of Operations and Comprehensive Loss](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Loss) Revenue increased to $328 thousand, operating loss improved to $1.9 million, and net loss reduced to $1.6 million | Metric | Three months ended June 30, 2025 ($ thousands) | Three months ended June 30, 2024 ($ thousands) | | :--- | :--- | :--- | | Revenue | 328 | 272 | | Gross Profit | 154 | 163 | | Operating Loss | (1,905) | (2,396) | | Net Loss | (1,599) | (2,378) | | Net Loss Per Share (Basic and Diluted) | $(0.02) | $(0.03) | [Condensed Consolidated Statements of Stockholders' Equity](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) Stockholders' equity decreased to $6.08 million due to net loss, partially offset by stock issuance and compensation - Stockholders' equity decreased by **$252 thousand** during the quarter, driven by a **$1.6 million** net loss, partially offset by capital raised from stock issuance (**$839 thousand**) and stock-based compensation (**$498 thousand**)[23](index=23&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operations was $1.4 million, offset by $580 thousand from investing and $851 thousand from financing | Cash Flow Activity | Three months ended June 30, 2025 ($ thousands) | Three months ended June 30, 2024 ($ thousands) | | :--- | :--- | :--- | | Net cash used in operating activities | (1,407) | (1,752) | | Net cash provided by (used in) investing activities | 580 | (131) | | Net cash provided by financing activities | 851 | 2,507 | | **Net increase in cash and cash equivalents** | **49** | **626** | [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail the company's Alzheimer's drug development, revenue sources, liquidity, and subsequent capital raise - The company's primary focus is on developing treatments for Alzheimer's disease, with its lead drug candidate, IGC-AD1, currently in Phase 2 clinical trials for treating agitation in Alzheimer's patients[30](index=30&type=chunk)[31](index=31&type=chunk) Revenue Source | Revenue Source | Q1 FY2026 ($ thousands) | Q1 FY2025 ($ thousands) | | :--- | :--- | :--- | | White labeling services | 322 | 251 | | Wellness and lifestyle | 6 | 21 | | **Total** | **328** | **272** | - The company extended its **$12 million** credit agreement with O-Bank, which, along with current cash, is expected to support operations for at least the next twelve months[40](index=40&type=chunk)[42](index=42&type=chunk) - Subsequent to the quarter end, through July 31, 2025, the company sold **6,623,085 shares** through its ATM facility for gross proceeds of **$2,623,467** at an average price of **$0.41 per share**[102](index=102&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=23&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses advancing IGC-AD1 and MINT-AD, improved financials with increased revenue and reduced loss, strengthened liquidity, and a new digital asset treasury strategy [Overview and Business Strategy](index=23&type=section&id=Overview%20and%20Business%20Strategy) The company focuses on advancing IGC-AD1 Phase 2 trials and MINT-AD AI tool deployment for Alzheimer's, while evaluating non-core asset options - The company's core short-term goals are the completion of the Phase 2 trial for IGC-AD1 and the deployment of the MINT-AD AI diagnostic tool[113](index=113&type=chunk) - During the quarter, the company expanded its clinical trial sites for IGC-AD1 across North America to accelerate patient enrollment and presented positive safety data for the drug's API[116](index=116&type=chunk) [Results of Operations](index=25&type=section&id=Results%20of%20Operations) Revenue increased by 21% to $328 thousand, operating loss improved by 20%, and net loss reduced by 33% due to cost optimization and tax credits Metric | Metric | Three months ended June 30, 2025 ($ thousands) | Three months ended June 30, 2024 ($ thousands) | Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 328 | 272 | 21% | | Gross Profit | 154 | 163 | (6)% | | SG&A Expenses | (1,208) | (1,670) | (28)% | | R&D Expenses | (851) | (889) | (4)% | | Operating Loss | (1,905) | (2,396) | (20)% | | Net Loss | (1,599) | (2,378) | (33)% | - The significant decrease in SG&A expenses by **$462 thousand** (**28%**) was attributed to optimizing operational efficiency, including lower employee-related costs and reduced spending on legal and professional services[119](index=119&type=chunk) - Other net income increased by **1,600%** to **$306 thousand**, primarily due to a tax credit of approximately **$263 thousand** received during the quarter[121](index=121&type=chunk) [Liquidity and Capital Resources](index=26&type=section&id=Liquidity%20and%20Capital%20Resources) Liquidity is supported by cash, a $12 million credit facility extension, and recent equity financing, including a $2.6 million ATM offering - The company extended its **$12 million** credit facility, with amended terms including a reduction in facility fees and a slight increase in the applicable interest margin[125](index=125&type=chunk) - In the first quarter of Fiscal 2026, the company raised **$841,000** by selling **2,803,333 shares** of common stock at **$0.30 per share** through Share Purchase Agreements[126](index=126&type=chunk) - Subsequent to the quarter, the company raised an additional **$2,623,467** by selling **6,623,085 shares** through its ATM at an average price of **$0.41**[127](index=127&type=chunk) [Treasury Strategy and Critical Accounting Policies](index=28&type=section&id=Treasury%20Strategy%20and%20Critical%20Accounting%20Policies) Management plans to invest in digital assets like bitcoin, establishing a new critical accounting policy for fair value measurement - Management plans to implement a new treasury policy in the quarter ending September 30, 2025, allowing for investment in digital assets like bitcoin to diversify treasury holdings[139](index=139&type=chunk)[140](index=140&type=chunk) - A new critical accounting policy for Digital Asset Investments has been established. Direct holdings will be accounted for under ASC 350-60 and measured at fair value, with changes recognized in earnings[143](index=143&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=29&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) This item is not applicable as the company qualifies as a smaller reporting company - The company is a smaller reporting company, and therefore, is not required to provide the information under this item[148](index=148&type=chunk) [Controls and Procedures](index=29&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal control over financial reporting - Based on an evaluation as of the end of the reporting period, the Chief Executive Officer and Principal Financial Officer concluded that the company's disclosure controls and procedures were effective[150](index=150&type=chunk) - There were no changes in the company's internal control over financial reporting during the quarter that have materially affected or are reasonably likely to materially affect it[151](index=151&type=chunk) [PART II. OTHER INFORMATION](index=30&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Legal Proceedings](index=30&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in a pending contractual dispute in Colombia, alleging fraud against four individuals, with no material changes this quarter - The company has a pending legal proceeding in Colombia involving a contractual dispute, where it has filed a complaint alleging fraud and other crimes against four individuals[155](index=155&type=chunk) [Risk Factors](index=30&type=section&id=Item%201A.%20Risk%20Factors) A new material risk factor has been identified regarding the company's potential investment in highly volatile digital assets - A new risk factor has been added regarding the company's plan to invest in digital assets like bitcoin[157](index=157&type=chunk) - Key risks associated with digital asset investment include price volatility, regulatory uncertainty, custody and operational risks, and potential negative impacts on earnings and financial position[159](index=159&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=31&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company sold 2,803,333 common shares for $841,000 in an unregistered private placement under Section 4(a)(2) of the Securities Act - The company sold **2,803,333 shares** of common stock in an unregistered private placement for gross proceeds of **$841,000** (**$0.30 per share**)[160](index=160&type=chunk) [Defaults Upon Senior Securities](index=31&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) No defaults upon senior securities were reported during the period - The company reported no defaults upon senior securities during the period[161](index=161&type=chunk) [Mine Safety Disclosures](index=31&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This item is not applicable to the company - This item is not applicable to the company[162](index=162&type=chunk) [Other Information](index=31&type=section&id=Item%205.%20Other%20Information) No other information was reported under this item - The company reported no other information under this item[163](index=163&type=chunk) [Exhibits](index=32&type=section&id=Item%206.%20Exhibits) The report includes key exhibits such as the O-Bank loan extension, officer certifications, and XBRL data files - Key exhibits filed with the report include the extension of the Master Loan Agreement (Exhibit 10.1) and officer certifications (Exhibits 31.1, 31.2, 32.1)[164](index=164&type=chunk)

Dear Shareholders, This shareholder letter follows the completion of our second quarter of 2025. It has been another record revenue quarter. We closed a financing for $40M during the quarter and another $48.7M last month. We want to take this opportunity to provide context and deeper insights into our operations and what these represent for Unusual Machines' future. Operations Update Unusual Machines revenue for the second quarter was about $2.12 million which represents a year over year increase for the qu ...

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